Cash flows from operating activities-direct method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions Sales $445,100.00 2 Cost of merchandise sold 157,900.00 5 Gross profit $287,200.00 Operating expenses: Depreciation expense $38,300.00 116,190.00 Other operating expenses Total operating expenses 154,490.00 Income before income tax $132,710.00 Income tax expense 40,590.00 $92,120.00 10 Net income Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions The balances of selected accounts at the beginning and the end of the current year are as follows: Beginning End of Year of Year Accounts receivable (net) $31,810 Inventories $36,930 92.460 13,360 80,670 Prepaid expenses Accounts payable (merchandise creditors) Accrued expenses payable (operating expenses) Income tax payable 67,690 19,710 4,260 14,840 63,340 21,120 4.260 Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the direct method. Refer to the Amount Descriptions list muitar for the award wins of the anscheine flavt antiae Hea thamini natacachouwe Hor n ach und nach Cash flows from operating activities-direct method Instructions Amount Descriptions Statement of Cash Flows-Operating Activities Instructions Th Amount Descriptions xarare as follows: Statement of Cash Flows-Operating Activities Prepare the Cash Flows from Operating Activities section of the statement of cash rows using the direct method. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Use the minus sign to indicate cash outflows, decreases in cash and a net cash outflow it required TITUTT Rhino Company Cash Flows from Operating Activities Section For the Year Ended June 30 Cash flows from operating activities: CheckMark Previous Next >